If the total cost of producing two pounds of cheese

Assignment Help Business Economics

Reference no: EM13898315

If the total cost of producing 2 pounds of cheese is $6 and the total cost of producing 4 pounds of cheese is $8, then:

a. average total cost remains constant irrespective of the change in output.

b. marginal cost remains constant irrespective of the change in output.

c. marginal cost of producing cheese declines as output increases.

d. average total cost of producing cheese declines as output increases.

Reference no: EM13898315

Questions Cloud

Firm ic acutely aware of production and marketing decisions : In oligopoly, each firm is acutely aware of the production and marketing decisions of all competitors and carefully considers the potential competitive reactions in all decisions. Discuss whether firms in other market structures consider the potentia..

Because of the high costs to the frequent flyers : Because of the high costs to the "frequent flyers", what should the responses departments/communities be to balance the needs of the many with the needs of the few?

State the total variable cost function : Where Q is output of ice cream, and L is labor hours. In the short-run K is fixed at 100. If capital rents for $10 and wages are $5 per hour, state the Total Variable Cost (Short Run Total Cost) function.

Profit maximization and loss minimization : BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price-discriminate; that is, it sells its beer at the same price per can to all customers. Suppose that a technological innovatio..

If the total cost of producing two pounds of cheese : If the total cost of producing 2 pounds of cheese is $6 and the total cost of producing 4 pounds of cheese is $8, then:

Average total cost incurred by firm is calculated dividing : The average total cost incurred by a firm is calculated by dividing:

Short run refers to a period of time during which : Short run refers to a period of time during which:

Total annual consumption vs annual weeks of leisure : A person can chose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week. Draw her annual budget constraint, representing total annual consumption vs annual weeks of leisure.

What would be its equilibrium profit : A monopolistic firm faces the following demand curve. Q = 7800 -12 P This monopoly's cost function has been estimated as follows: TC = 460,000 + 50 Q. What price should this monopoly charge to maximize its profit? What would be its equilibrium profit..

User Account

All Pages